LME aluminium price closes 1.90% lower at US$2,390.50/t; SHFE price hikes by US$60/t

LME aluminium opened at US$2,423.5 per tonne on Wednesday and closed at US$2,426 per tonne, an increase of US$4 per tonne or 0.17 per cent.

On Wednesday, July 27, LME aluminium cash bid price declined by US$45 per tonne or 1.84 per cent to settle at US$2,390 per tonne. On the same day, LME aluminium official settlement price also plunged by US$46.5 per tonne or 1.90 per cent to rest at US$2,390.50 per tonne.

As per the LME data, 3-month bid price dropped by US$39.5 per tonne or 1.62 per cent to stand at US$2,385.50 per tonne. 3-month offer price plunged by US$40.5 per tonne or 1.66 per cent to halt at US$2,386.50 per tonne.

Both December 23 bid price and December 23 offer price slumped by US$40 per tonne to peg at US$2,427 per tonne and US$2,432 per tonne.

LME aluminium opening stock was recorded at 299700 tonnes. Live warrants and Cancelled warrants for the same day closed at 148350 tonnes and 151350 tonnes.

LME aluminium 3-month Asian Reference Price went down by US$8.04 per tonne or 0.33 per cent to stand at US$2,420.50 per tonne.

SHFE aluminium price

On Thursday, July 28, the benchmark aluminium price for SHFE augmented by US$60 per tonne or 2.24 per cent to close at US$2,731 per tonne.

The most-traded SHFE 2209 aluminium closed up 1.15 per cent or RMB 205 per tonne to RMB 18,055 per tonne, with open interest up 4,091 lots to 178,295 lots.

The most-traded SHFE 2209 aluminium contract opened at RMB 18,025 per tonne overnight and rose to RMB 18,500 per tonne before closing at RMB 18,300 per tonne, up RMB 245 per tonne or 1.36 per cent.